Here’s what you need to know about the ever-changing real estate market.
It’s time for another real estate market update. I have the latest National Association of Realtors statistics, and I’ll break those down with you and compare them to our market here in San Antonio.
Nationwide, inventory is right around two and a half months. Here in San Antonio, we have slightly less than two months. Median home prices are right around $350,000 across the nation.
This year hasn’t been quite as brisk as it was in 2020, but the market has changed. In the first few months of this year, you could put any home on the market at any price and condition, and it would sell right away. You could put it on the market on Thursday, get 10+ offers, and sign way above asking price by Sunday.
Over the last few months, however, a lot of buyers have become fatigued and taken themselves out of the market. They're waiting for prices to go down or the market to change. Prices have stabilized in the market, and the buyers out there are measured buyers. Homes are taking slightly longer to sell, but they’re still selling quickly from a historical perspective. Gone are the days of homes taking just two days to sell.
It’s a great time to buy and/or sell a home in Texas right now. If you have any questions for me about the latest numbers for your neighborhood, don’t hesitate to reach out via phone or email and I’d be happy to share those hyper-local stats. I look forward to hearing from you soon.